Logitech International (NASDAQ:LOGI) Price Target Raised to $94.00

Logitech International (NASDAQ:LOGI) had its price objective increased by Morgan Stanley from $90.00 to $94.00 in a report issued on Wednesday,Benzinga reports. They currently have an underweight rating on the technology company’s stock.

Other equities research analysts have also issued reports about the company. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target on the stock. in a research report on Tuesday, June 30th. Wall Street Zen upgraded Logitech International from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Barclays boosted their price objective on Logitech International from $101.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wedbush decreased their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Logitech International has a consensus rating of “Hold” and an average target price of $106.29.

Logitech International Price Performance

NASDAQ LOGI opened at $95.53 on Wednesday. Logitech International has a fifty-two week low of $83.32 and a fifty-two week high of $129.66. The stock’s 50-day moving average is $101.98 and its two-hundred day moving average is $99.72. The firm has a market cap of $14.00 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 5.31 and a beta of 1.14.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, October 27th. The technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.17. Logitech International had a return on equity of 37.09% and a net margin of 16.36%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Logitech International will post 5.19 EPS for the current year.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 16,265 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the completion of the transaction, the insider directly owned 37,097 shares in the company, valued at $3,759,780.95. This represents a 30.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Logitech International during the 3rd quarter worth $41,000. ProShare Advisors LLC increased its holdings in Logitech International by 11.5% during the third quarter. ProShare Advisors LLC now owns 10,497 shares of the technology company’s stock worth $1,061,000 after buying an additional 1,081 shares during the last quarter. Modera Wealth Management LLC bought a new stake in Logitech International in the third quarter worth about $2,981,000. Generali Asset Management SPA SGR bought a new stake in Logitech International in the third quarter worth about $516,000. Finally, Park Avenue Securities LLC purchased a new position in Logitech International in the third quarter valued at about $686,000. 45.76% of the stock is owned by institutional investors.

About Logitech International

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.